Banks exchanging billions of dollars every day and overnight lending in order to maintain their reserve ratios now this borrowing isnt free you have to put up collateral usually in the form of treasuries or other tear one securities so under normal circumstances the repo market runs smoothly the rate is steady around 2 percent and the entire system is dependent on trust trust that the borrower can pay you back plus interest its a great way for commercial banks to make money now what happened here was when the rates suddenly spite we dont actually know what happened yet because we havent seen a spike like that since 2008 and in 2008 when the rate suddenly shot up indicating that there was a risk and uncertainty in the market there were rumors going around that your partner banks were insolvent so when you hear Something Like that as a bank thats a huge risk you dont want to lend to an insolvent partner so when you see a risky client you want to charge them 5 percent 10 percent. Tiene pe
of representatives. cheering. not since the american civil war more than 160 years ago has it taken this long to elect a speaker. that was easy, huh? after multiple concessions and days of arm twisting, and at times tempers almost boiling over, kevin mccarthy finally persuaded enough on the right of his party to back him, with a little help from a friend. i do want to especially thank president trump. i don t think anybody should doubt his influence. he was with me from the beginning. somebody wrote the doubt of whether he was there and he was all in. it was donald trump s supporters who were all in with the storming of the capitol two years ago to the day and that will overshadow kevin mccarthy s speakership. he will probably be the weakest speaker in the modern history of the country and he will be held hostage to these 2021 radical republicans. the divisions may be resolved for the moment, but the next two years will be a rocky ride for the new speaker, as he resides over
Right now breaking records as wind chill alerts are put in place from texas to maine. The conditions potentially lifethreatening. Abcs Stephanie Ramos has more on the bittlerly cold temperatures and what much of the country can expect in the coming days. That bitter cold. Having an impact across our area to first responders. Fire crews across our area. Have seen a busy start to the new year. In the last 3 days, Fire Companies through northern virginia, washington dc and suburban maryland have responded to major structure fires more than a dozen times. And even when the fires are not caused by the cold the weather makes fighting them tougher. Fire crews say they have to take special precautions to make sure their water hoses dont freeze. A reminder from firefighters when the weather gets cold like this, make sure your chimney is clean and inspected, and keep space heaters at least 3 feet away from anything flammable. Wild video of the moments a transformer caught fire in montgomery coun
Toss to eileen frigid start for back to work school; sunny cold afternoon frigid start for back to work school; sunny cold afternoon watching coastal system wed thursday some snow possible east of i95 another bitter blast friday saturday highs in the teens 40s return in the extended outlook today mostly sunny. Continued cold. Highs 2530 winds nw 510 mph tonight clear and cold. Lows 916 winds sw 5 mph to calm wednesday sunny early becoming mostly cloudy. Highs 3136 winds s 5 mph 5 xx and we are news in maryland three people now recovering after a freezing water rescue overnight. Police tell us the three were in a car that tried to cross over an icedover dropping the car into the freezing water. Rescue teams were able to safely pull the three onto a boat. They were very cold, but otherwise ok. Happening right now as julie mentioned. Were monitoring not one, not two, but three water main breaks. In alexandria. Montgomery street turned into a skating rink in old town. The good news no majo
Day of 09 plus got up to 09 plus got up to 91 in newark and temperatures tailed off a little bit in and around new york city and especially around coastal areas with a wind off the water and also north of the city with a couple of showers and thunderstorms providing a little bit of relief but 93 right now in morristown and 90 sussex. Still very warm if not downright hot just heres the High Resolution futurecast and to the evening and any thunderstorm activity should tend to weaken as we lose that daytime heating. So the heat wave is going to be winding down. But if anything, the humidity will actually be on its way up over the next several days. And eventually that will lead to some more widespread thunderstorm activity. Well have much more on that coming up in your full accuweather forecast a little bit later in the half hour. Liz david back over to you. Thanks lot. Now to the developing story involving Rosie Odonnell. The actress comedienne says her 17yearold daughter Chelsea Odonnel